Allergy Therapeutics PLC Trading Update (6556L)
January 13 2016 - 2:00AM
UK Regulatory
TIDMAGY
RNS Number : 6556L
Allergy Therapeutics PLC
13 January 2016
13 January 2016
Allergy Therapeutics plc
("Allergy Therapeutics" or the 'Company")
Trading Update
Allergy Therapeutics (AIM:AGY), the fully integrated specialty
pharmaceutical company specialising in allergy vaccines, today
announces the following trading update for the six months to 31
December 2015, ahead of the publication of its unaudited interim
results in March 2016.
At *constant currency the Company expects to report revenue
growth of 12 per cent. for the period, with first half revenues of
approximately GBP31.5m (H1 2015: GBP28.2m). This double digit
organic sales growth has been primarily driven by the Company's
positive trading performance as it continues to increase its market
share in all of its major European markets, supported by the
acquisition of Alerpharma in June 2015. It is therefore anticipated
that the Company's full year revenue will be in-line with current
market expectations despite significant currency headwinds.
Commenting on the trading update, Manuel Llobet, Chief Executive
Officer, said:
"We are delivering double digit growth at constant currency and
gaining market share despite a flat to low European market. Overall
we are executing our business strategy and, in addition to growing
our European business, remain focused on executing a pivotal
clinical trial programme, potentially paving the way towards the US
and expanding into new market segments with a strong new product
pipeline. Our business is now in a very strong position to generate
continuing growth over the coming years."
*Constant currency uses prior year weighted average exchange
rates to translate current year foreign currency denominated
revenue to give a year on year comparison excluding the effects of
foreign exchange movements. Without using the constant currency
effect, the Company expects first half reported revenues of
approximately GBP29.0m (H1 2015: GBP28.2m), representing growth of
3 per cent.; the negative impact from the weakening Euro being
GBP2.5m.
- Ends -
Allergy Therapeutics +44 (0) 1903 845 820
Manuel Llobet, Chief Executive Officer
Ian Postlethwaite, Finance Director
Panmure Gordon +44 (0) 20 7886 2500
Freddy Crossley / Duncan Monteith, Corporate Finance
Tom Salvesen, Corporate Broking
Consilium Strategic Communications +44 20 3709 5700
Mary-Jane Elliott / Ivar Milligan / Matthew Neal / Laura
Thornton
Allergytherapeutics@consilium-comms.com
Note for editors
About Allergy Therapeutics
Allergy Therapeutics is a specialty pharmaceutical company
focused on allergy vaccination. It has a growing business achieving
revenue in the last financial year of GBP43.2 million mainly in
Europe through its own sales and marketing infrastructure and
further afield through distributors.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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